Amgen’s (AMGN) Buy Rating Reaffirmed at Oppenheimer Holdings, Inc.
Amgen Inc. (NASDAQ:AMGN)‘s stock had its “buy” rating restated by investment analysts at Oppenheimer Holdings, Inc. in a note issued to investors on Friday. They currently have a $203.00 price target on the medical research company’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 8.66% from the company’s current price.
Several other research firms have also commented on AMGN. BidaskClub upgraded Amgen from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. ValuEngine upgraded Amgen from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. BMO Capital Markets lowered Amgen from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. Mizuho reiterated a “buy” rating and issued a $198.00 target price (up from $183.00) on shares of Amgen in a report on Thursday, September 28th. Finally, Argus lifted their target price on Amgen from $180.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. Amgen presently has an average rating of “Buy” and an average target price of $189.99.
Shares of Amgen (AMGN) traded down 0.5189% during midday trading on Friday, reaching $185.8804. The company’s stock had a trading volume of 1,076,828 shares. Amgen has a one year low of $133.64 and a one year high of $191.10. The stock’s 50-day moving average is $180.82 and its 200-day moving average is $170.11. The company has a market capitalization of $135.63 billion, a P/E ratio of 16.9305 and a beta of 1.36. Amgen also was the target of unusually large options trading on Thursday. Stock traders bought 9,350 put options on the stock. This represents an increase of 239% compared to the average daily volume of 2,758 put options.
Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Tuesday, July 25th. The medical research company reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. Amgen had a return on equity of 29.85% and a net margin of 35.46%. The business had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period last year, the business posted $2.84 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts expect that Amgen will post $12.58 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the company. Camelot Portfolios LLC acquired a new stake in shares of Amgen during the first quarter worth about $1,429,000. PGGM Investments increased its position in shares of Amgen by 2.3% during the second quarter. PGGM Investments now owns 670,936 shares of the medical research company’s stock worth $115,555,000 after purchasing an additional 15,059 shares in the last quarter. Shelton Capital Management increased its position in shares of Amgen by 82.7% during the first quarter. Shelton Capital Management now owns 108,997 shares of the medical research company’s stock worth $17,883,000 after purchasing an additional 49,354 shares in the last quarter. Greylin Investment Mangement Inc. increased its position in shares of Amgen by 466.9% during the second quarter. Greylin Investment Mangement Inc. now owns 14,030 shares of the medical research company’s stock worth $2,416,000 after purchasing an additional 11,555 shares in the last quarter. Finally, Kelman Lazarov Inc. increased its position in shares of Amgen by 8.2% during the second quarter. Kelman Lazarov Inc. now owns 1,580 shares of the medical research company’s stock worth $272,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 78.10% of the company’s stock.
Amgen Company Profile
Amgen Inc is a biotechnology company. The Company discovers, develops, manufactures and delivers various human therapeutics. It operates in human therapeutics segment. Its marketed products portfolio includes Neulasta (pegfilgrastim); erythropoiesis-stimulating agents (ESAs), such as Aranesp (darbepoetin alfa) and EPOGEN (epoetin alfa); Sensipar/Mimpara (cinacalcet); XGEVA (denosumab); Prolia (denosumab); NEUPOGEN (filgrastim), and other marketed products, such as KYPROLIS (carfilzomib), Vectibix (panitumumab), Nplate (romiplostim), Repatha (evolocumab), BLINCYTO (blinatumomab), IMLYGIC (talimogene laherparepvec) and Corlanor (ivabradine).
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